Described by the The New York Times as the “first deal of its kind,” the follow-up to the Oscar-winning blockbuster, starring Michelle Yeoh and directed by Woo-ping Yuen will debut simultaneously around the world on the streaming service as well as select number of IMAX theaters.

Ted Sarandos, Netflix’s chief content officer, said the move reflected what movie fans’ wanted, in terms of changing the traditional model for film releases.

The Weinstein Company film, titled “Crouching Tiger, Hidden Dragon: The Green Legend,” will debut Aug. 28 on Netflix and subscribers will not have to pay an additional fee to watch.

The movie is set two decades after the events in the original film and once again stars Michelle Yeoh who reprises her role as the warrior Yu Shu Lien. Ang Lee does not return for the sequel thus Weinstein Company has instead given the directing reins to Woo-ping Yuen, a well-known director in China.